CRH Medical (NYSEAMERICAN:CRHM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Thursday, Zacks.com reports. The firm currently has a $3.50 price objective on the stock. Zacks Investment Research‘s price objective points to a potential upside of 14.75% from the stock’s current price.
According to Zacks, “CRH Medical Corporation is a North American company focused on providing gastroenterologists throughout the United States with innovative services and products for the treatment of gastrointestinal diseases. In 2014, CRH became a full-service gastroenterology anesthesia company that provides anesthesia services for patients undergoing endoscopic procedures in ambulatory surgical centers. At the end of 2018, CRH had completed 20 anesthesia acquisitions and served 46 ambulatory surgical centers in ten states, performing approximately 305,000 procedures annually. In addition, CRH owns the CRH O’Regan System, a single-use, disposable, hemorrhoid banding technology that is safe and highly effective in treating all grades of hemorrhoids. CRH distributes the O’Regan System, treatment protocols, operational and marketing expertise as a complete, turnkey package directly to gastroenterology practices, creating meaningful relationships with the gastroenterologists it serves. “
Separately, Bloom Burton upgraded CRH Medical from an “accumulate” rating to a “buy” rating in a research note on Thursday, August 1st. Four equities research analysts have rated the stock with a buy rating, The stock has an average rating of “Buy” and an average target price of $3.50.
CRHM stock opened at $3.05 on Thursday. CRH Medical has a 52-week low of $2.51 and a 52-week high of $3.79.
CRH Medical (NYSEAMERICAN:CRHM) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.02. The company had revenue of $30.42 million for the quarter, compared to analyst estimates of $31.50 million.
Several hedge funds and other institutional investors have recently made changes to their positions in CRHM. Pacific Ridge Capital Partners LLC boosted its stake in shares of CRH Medical by 1.7% in the 2nd quarter. Pacific Ridge Capital Partners LLC now owns 2,111,335 shares of the company’s stock worth $6,397,000 after buying an additional 34,687 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of CRH Medical by 3.5% in the 2nd quarter. Renaissance Technologies LLC now owns 669,700 shares of the company’s stock worth $2,029,000 after buying an additional 22,500 shares during the last quarter. Finally, CLARET ASSET MANAGEMENT Corp boosted its stake in shares of CRH Medical by 587.0% in the 3rd quarter. CLARET ASSET MANAGEMENT Corp now owns 163,516 shares of the company’s stock worth $503,000 after buying an additional 139,716 shares during the last quarter.
About CRH Medical
CRH Medical Corporation provides various products and services to gastroenterologists in the United States and Canada. It offers CRH O'Regan system, a single use, disposable, and hemorrhoid banding technology for treating various grades of hemorrhoid. The company also offers anesthesia services for patients undergoing endoscopic procedures.
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